Indicator analysis: Daily review of EUR/USD on June 1, 2023
June 1, 2023 9:24 am
Trend analysis (Fig. 1).
The market may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0653, the 76.4% pullback level (yellow dotted line). From this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis – down;
Fibonacci levels – down;
Volumes – down;
Candlestick analysis – down;
Trend analysis – down;
Bollinger bands – down;
Weekly chart – down.
General conclusion:
Today, the price may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0653, the 76.4% pullback level (yellow dotted line). From this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0635, the lower fractal (red dotted line), where the price may rise towards the 14.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
Trend analysis (Fig. 1).
The market may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0653, the 76.4% pullback level (yellow dotted line). From this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today, the price may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0653, the 76.4% pullback level (yellow dotted line). From this level, an upward movement is possible with the target of 1.0702, the 14.6% pullback level (red dotted line).
Alternatively, the price may move downward from the level of 1.0688 (closing of yesterday’s daily candle) to 1.0635, the lower fractal (red dotted line), where the price may rise towards the 14.6% pullback level (red dotted line).
The material has been provided by InstaForex Company – www.instaforex.com
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